It was another record-low for the Monthly Treasury Average, and next month looks like more of the same.
The MTA was down 1 basis point from September to finish last month at 0.33000 percent, according to an analysis of data reported by the Federal Reserve.
The index was also lower than October 2009, when it was 0.54417 percent.
In order to determine the index for a given month, the average daily yield on the one-year Treasury is calculated for each of the prior 12 months. During October, the daily average of the one-year yield was 0.23 percent.
The 12-month average equals the latest MTA.
MTA serves as an index for adjustable-rate mortgages.
Another index, the yield on the one-year Treasury, closed yesterday at 0.22 percent, according to data from the U.S. Department of the Treasury. The yield was 0.26 percent a month earlier and 0.37 percent a year earlier.
An analysis of Treasury data suggests that, given no dramatic increase in the one-year yield this month, the MTA will fall to a new low next month.